Thornburg Investment Management Inc. Takes Position in StepStone Group LP (NASDAQ:STEP)
Thornburg Investment Management Inc. bought a new stake in StepStone Group LP (NASDAQ:STEP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 47,753 shares of the company's stock, valued at approximately $2,764,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of StepStone Group in the fourth quarter valued at approximately $501,000. ProShare Advisors LLC lifted its position in shares of StepStone Group by 52.0% in the fourth quarter. ProShare Advisors LLC now owns 19,732 shares of the company's stock valued at $1,142,000 after acquiring an additional 6,750 shares in the last quarter. Nuveen Asset Management LLC lifted its position in StepStone Group by 1.9% during the fourth quarter. Nuveen Asset Management LLC now owns 325,404 shares of the company's stock worth $18,834,000 after buying an additional 6,028 shares in the last quarter. Meketa Capital LLC purchased a new position in StepStone Group during the fourth quarter worth approximately $1,383,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in StepStone Group by 9.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,364 shares of the company's stock worth $2,163,000 after buying an additional 3,336 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.
In other StepStone Group news, CEO Scott W. Hart sold 900 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $60.01, for a total transaction of $54,009.00. Following the completion of the sale, the chief executive officer now owns 109,100 shares of the company's stock, valued at $6,547,091. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,238 shares of company stock valued at $750,219 over the last quarter. 18.44% of the stock is owned by insiders.
STEP stock opened at $59.55 on Monday. The business has a fifty day moving average of $51.52 and a two-hundred day moving average of $58.01. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -35.24 and a beta of 1.37. StepStone Group LP has a 52-week low of $36.97 and a 52-week high of $70.38.
A number of equities analysts recently commented on the company. Oppenheimer set a $67.00 price objective on StepStone Group and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Barclays reduced their price objective on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Morgan Stanley reduced their price objective on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Evercore ISI lifted their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $61.64.
View Our Latest Research Report on StepStone Group
StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.
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